Know-how-driven hedge fund Two Sigma is available in the market for a serious house growth and consolidation that may very well be value a fortune to a lot of Manhattan landlords.
Though it’s not often within the press, the worldwide, privately held agency boasts $58 billion in property beneath administration. It’s at the moment headquartered in a mini-campus at 100 and 101 Sixth Ave. in Tribeca, in accordance with its Web page.
Now, we’re advised by sources that the setup and flooring plates there not work for the corporate. With lease expirations looming in 2023, Two Sigma is prowling for bigger new digs — of 400,000 to 600,000 sq. toes — in both the FiDi space or Midtown South. Cushman & Wakefield is claimed to be main the search.
Touchdown Two Sigma can be a breakthrough for a number of older workplace buildings which can be both vacant or quickly shall be. Amongst them: EQ’s 1740 Broadway, Paramount Group’s 60 Wall St., Rudin’s 3 Instances Sq. and 80 Pine St., RXR’s 5 Instances Sq. and Nightingale’s 111 Wall St.
Giant blocks are additionally up for grabs at Brookfield’s brand-new Two Manhattan West, Tishman Speyer’s Spiral and L&L Holdings’ 425 Park Ave., in addition to at two fully redesigned towers — Brookfield’s 660 Fifth Ave. and Olayan Group’s 550 Madison Ave.
There’s life ultimately for the long-planned Alamo Drafthouse cinema complicated at Fosun’s 28 Liberty St. The Texas-based luxurious chain accomplished its chapter sale to Altamont Capital Companions final week and plans to open the FiDi location this fall.
Progress was gradual at 28 Liberty since we first reported Alamo’s 40,000 square-foot lease there again in 2017. Repeated delays have been blamed on development points associated to the tower’s landmark standing.
Nevertheless, the newest stall clearly needed to do with the corporate’s troubled funds after the pandemic shut down film theaters in March of 2020.
Now, as cinemas reopen and Hollywood gears up for main manufacturing once more, Alamo plans to develop with a number of new theaters round america, together with one on Staten Island.
The favored Upper East Side eatery Flex Mussels will quickly be flexing its muscular tissues — and getting extra legroom — when it strikes later this yr from cramped quarters at 174 E. 82 St. to extra spacious digs at 1431 Third Ave., across the nook.
The brand new location was previously Turkish cafe Beyoglu. Flex Mussels proprietor Alexandra Shapiro made the deal by means of CBRE brokers Gary Trock and Zach Parisi.
Shapiro wished a brand new house close by for Flex Mussels earlier than the pandemic shutdown final yr. Trock and Parisi noticed a possibility on the Beyoglu location, the place the lease was expiring.
The brand new house has 1,690 sq. toes on the bottom, 1,770 sq. toes on the second flooring and 1,770 extra within the basement — permitting for a lot of extra seats than the present 2,000 sq. toes on East 82nd Avenue.
As well as, Flex Mussels may also have 30 outside seats at its new digs, in contrast with solely eight on the previous spot. It’s going to reopen on June 8 and transfer within the fourth quarter this yr or the primary quarter of 2022. Flex additionally has an outpost within the West Village.
The menu gives mussels in 22 totally different broths, from traditional French white wine, garlic and herbs to Thai-style curry-coconut broth, lemongrass, kaffir lime, coriander, lime and ginger.
The Instances Sq. Alliance has a brand new chief: Tom Harris, who served as performing president after former President Tim Tompkins stepped down in December after 19 years.
It shouldn’t come as a shock. Harris — a 23-year veteran of the NYPD and a graduate of St. Joseph’s Faculty and Marist Faculty — has spent 13 years on the Alliance. Nonetheless, a search committee led by Alliance board Chairman Eric Rudi spent months on an “exhaustive” seek for Tompkins’ everlasting successor.
With Broadway theaters nonetheless darkish and places of work principally empty whilst vacationers return, the alliance faces probably the hardest problem of all town’s 76 business-improvement districts.
“Instances Sq. is .1 % of town landmass and 15 % of town’s financial system.” Harris stated. “We won’t get better from this pandemic till Instances Sq. recovers.”